Cramer's 'Mad Money' Recap: Spring Bling

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Time Is Money

Why do you want to make money? Jim Cramer asked "Mad Money" viewers Thursday.

If it's because you want to show off with some fancy duds and the "bling bling," you'd understand why it's a good idea to buy Movado(MOV Quote), which he called one of the best luxury-goods makers around.

Capitalize on your own worst qualities and make some cash, he said, pointing out that the Paramus, N.J.-based watchmaker makes some of the most expensive accessories in the business, including an $18,000 watch.

The business is on fire because accessories are hot, Cramer said. And everything high-end has been doing well.

Movado is a good buy because it is relatively unexploited, he said, adding that the company has beaten earnings estimates for the past three quarters. The nine quarters before that, Movado met earnings estimates.

The company is working with partners to market watches, including designer labels such as Juicy Couture. And while most of the company's money comes from wholesale sales to other retailers, Cramer said they are operating 27 boutiques and 19 outlet stores.

"We like the retail because it's straight to customers, so the margins are higher for Movado," he said. These retail locations are not profitable yet, but he believes that they will be soon and that will mean growth.

Plus, premium and luxury watches have been in high demand, and global demand for expensive timepieces is high, Cramer said.

Movado could see a lot of business in China, which is now the third-largest market for luxury goods, because the company's goods are pricey, but not as expensive as brands like Rolex.